9. Sara Lee Corp.

May 15, 1994|By Profiled by the Chicago Tribune business reporting staff.

3 First National Plaza, Chicago 60602, 312-726-2600

COMPANY

Founded: 1939

Year-end: July 3

Employees: 138,000; 7,600 in Illinois

Foreign sales: 35.5 percent of $14.6 billion

Stock: 365-day close

High: $28.25

Low: $20.12

April 29: $20.75

May 1, 1994, value of $1,000 in company stock

Purchased 1993: $826

Purchased 1989: $1,692

CHIEF EXECUTIVE

John H. Bryan, 57, since 1976

Cash compensation: $1,962,644

Options granted: $5,714,739; none in 1992

Options, stock appreciation rights exercised: $10,003,029

Shares owned: 2,085,843 of 478.6 million

Restricted stock: 192,000 shares

The consumer-products firm, pressured by an earnings slowdown, appears to have shifted strategy from growth by acquisition and capital-spending programs to improving profit margins and return on investment.

Sara Lee's redirection is focused on its personal-products division, which accounts for about 35 percent of sales. The obstacle is stagnant markets in knitwear, underwear and hosiery. With new trade agreements set to allow more imports of cheaper foreign textiles, Chairman John Bryan says, Sara Lee will "invest no further in textile production to support European and U.S. knit products."

The food and personal-care divisions have fared better. The biggest challenge to food operations appears to be higher prices Sara Lee may have to pay for some commodities.